Matthew Caufield, an analyst from H.C. Wainwright, reiterated the Buy rating on Tarsus Pharmaceuticals. The associated price target remains the same with $72.00.
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Matthew Caufield has given his Buy rating due to a combination of factors including the strong market performance of XDEMVY, Tarsus Pharmaceuticals’ flagship product. XDEMVY has achieved significant sales milestones, surpassing $100 million in quarterly net product sales, as the first and only FDA-approved treatment for Demodex blepharitis. This success is attributed to the ease of diagnosing the condition during routine eye exams and the effective direct-to-consumer advertising campaign that has increased prescription growth.
Additionally, the company has strategically targeted a broad range of eye care providers, expanding its reach to over 20,000 prescribers, which has facilitated further market penetration. The high coverage of commercial, Medicare, and Medicaid lives, along with increased consumer engagement on their website, supports sustained growth. Furthermore, Tarsus’ pipeline expansion, particularly the development of TP-04 for ocular rosacea, presents additional growth opportunities. These factors collectively underpin the Buy rating and a price target of $72.
According to TipRanks, Caufield is an analyst with an average return of -5.6% and a 37.57% success rate. Caufield covers the Healthcare sector, focusing on stocks such as Diamedica Therapeutics, Opus Genetics, and LENZ Therapeutics.